Key facts
- Foxconn and Mitsubishi Electric aim to build a global electric vehicle platform business through a 50-50 joint venture.
- The partnership aims to combine Foxconn's scale and speed with Mitsubishi Electric's technology.
- The new EV is expected to be available from 2026, initially in Australia and New Zealand.
- Production will occur in Thailand with collaboration from Yulon Motor.
- The vehicle will be sold under the Mitsubishi brand.
Taiwanese electronics manufacturer Foxconn and Japan's Mitsubishi Electric have announced a 50-50 joint venture to develop a global electric vehicle platform. The partnership, formalized through a memorandum of understanding, aims to combine Foxconn's manufacturing prowess with Mitsubishi Electric's automotive technology. The venture is seen as a strategic move for both companies amid rapid changes in the automotive sector and the growing presence of Chinese EV makers. The new electric vehicle is slated for release starting in 2026, with initial markets including Australia and New Zealand. Production is planned to take place in Thailand, with collaboration from Taiwanese manufacturer Yulon Motor. The vehicle will be marketed under the Mitsubishi brand, with Mitsubishi retaining full control over distribution and sales, particularly in Oceania. While technical details are scarce, speculation suggests the car may be based on Foxtron's MIH platform, possibly starting with the Model B concept which promised around 430 kilometers of range.